Property Technology Innovations & Solutions for the Future of Real Estate Developers, Investors & Owners
There are many new products and services from the property technology market it can be a daunting task simply to review and evaluate them. Below is a sample as recommended by members of ULI’s Technology and Real Estate Council in a recent Industry Outlook for Property Technology: Americas. Whether you are in development or construction, portfolio management or investing one important aspect to analyse for each product or service is the return on investment, it has to be attractive enough to offset the hidden costs of implementation to each product or service, like staff training or man hours to install.
Here are some of the products and services mentioned in the Industry Outlook:
Latch was founded by former Apple employees and started out originally with smart locks that allowed residents to use a smartphone, keycard, or code to unlock their door, and share temporary access with visitors or service providers. It now offers fully integrated hardware, software and services for multifamily buildings that provide residents and property managers greater flexibility, convenience and security.
This technology has been a lifesaver for property managers and investors who own multifamily where there is no doorman and where packages need to be delivered on a constant basis. Latch is easy to install and it only requires that the tenant download the latch application so they are notified whenever they have a package arriving to their building, they can open the door for the delivery person or send them a code for them to access the building and leave the package for them inside the building.
Nantum OS is the world’s most advanced and secure building and portfolio Operating System for commercial and residential real estate. It analyzes data from disparate building systems (including BMS, utility and power quality meters, and access control) and provides a single dashboard that monitors factors as occupancy, indoor temperature and other features in real-time that produce energy savings, improves building performance and tenant comfort.
One important feature of Nantum is OS is its simple cost-effective installation process, saving investors’ money by allowing them to integrate it directly into any existing building system without having to retrofit or replace the current infrastructure.
This platform is great for companies that manage large portfolios of office space, for example, it allows the user to know in real time how many people are in the building or how much water was used on a given day, helping predict building performance so that inefficiencies are detected and improved, the savings are enormous and can up to millions of dollars a year just in energy costs.
Is the only construction finance software that intelligently parses documents and connects information for frictionless transactions. The platform allows the automation of the construction draw process, it eases the administrative burden while connecting everyone with accurate information faster.
Rabbet allows developers to upload draw documents to Rabbet throughout the month, parses complex documents, classifies the documents, extracts all relevant information, and structures it neatly into a contextualized format.
Draw preparers correct reconciliation errors detected by Rabbet, send for internal approvals and submit the Contextualized Construction Draw to the lenders. Lenders review the Contextualized Construction Draw, paying special attention to areas of the highest risk. Rabbet is trained to conform to each project’s specific requirements.
With all project information centralized, lenders and developers are able to leverage unprecedented data to quickly transact, document, reconcile, report, and audit their construction finances.
VTS is a leasing and asset management platform that centralizes all of the critical data, the leasing activities and workflows into one space. VTS provides users with an easy-to-use, intuitive platform that empowers commercial real estate professionals to work smarter not harder. It delivers a modern toolset for portfolio managers and real estate investors that is designed to unlock the full potential of a portfolio, it decreases down time and improves the value of the assets by optimizing performance and revenue with the data needed to make better decisions faster.
Nestio operates an online service to organize the process of searching for an apartment, it allows property owners, managers and brokers to engage with renters. It provides web based software and tools, available in an online social setting, that enables users to edit listing information, add comments, and to collaborate with roommates in real time during apartment searches by sharing listings, photos and notes. Currently, Nestio has “hundreds of thousands” of units on its platform and they claim to have helped reduce days on market by more than 20% percent for their clients.
Honest Buildings is a cloud-based project management solution that caters to businesses in the real estate industry. Features include dynamic dashboard views, project bidding, cost tracking, template libraries and more.
Honest Buildings’ dynamic dashboard views help users to keep track of their portfolios’ performance against allocated budgets. The views also provide users visibility into committed costs, change orders and invoices that enable them to identify potential risks and opportunities.
Using Honest Buildings, users can centralise and digitise approvals and documentation throughout a project, eliminate version issues and capture data points for portfolio-wide analytics.
Additionally, the solution allows users to leverage automated bid-leveling and build bids from template library to scale their RFP processes. Users can also generate custom reports on projects and performance of the vendors that help them to spot trends and make relevant business decisions.
TFLiving is a full-service tech-enabled wellness amenity company that provides services to a variety of residential and corporate locations across the United States. TFLiving works with landlords and management companies to enhance properties and add value by providing a wealth of amenities packages for tenants and residents. Amenity services include on-site fitness classes, dog walking services and social events — such as food truck events or wine tastings.
This is the latest in a series of blogposts from the University of San Diego, for the MIPIM 2020 campaign.
Top image: Getty Images – Katarzyna Bialasiewicz